Nat West is the National Westminster Bank plc. NatWest Bank is the new name for the Royal Bank of Scotland.

https://investors.natwestgroup.com/

The annual report makes interesting reading.

https://investors.natwestgroup.com/~/media/Files/R/RBS-IR-V2/annual-reports/full-annual-report.pdf

Some simple highlights:-

Customer Deposits are £479 Bn (£479,810 million)
Cash deposited with Central Banks £177 Bn (£177,757 million)
Loans to customer £358 Bn (£358,990 million)

Total Assets £781 Billion (£781,992 Million)

As at 11 February 2022, the UK Government held 50.94% of the issued share capital with voting rights of NatWest Group plc

On the 1st July 2022, GSK one of the largest pharmaceutical company’s in the world pays out its July 2022 dividend, ahead of its demerger where it is spinning out its consumer arm to create Haleon

https://www.theguardian.com/business/2022/jul/06/largest-lse-listing-45bn-looms-gsk-investors-demerger-vote-sensodyne-panadol-haleon-voltaren

https://www.gsk.com/en-gb/investors/a-new-consumer-healthcare-company/

The dividend is 14p a share.

https://www.londonstockexchange.com/news-article/GSK/total-voting-rights/15522948

The total number of voting rights in the Company is 5,084,151,821

Thus:-

5,084,151,821 x £0.14 = £711,781,254.94

That is £711 million.

https://www.londonstockexchange.com/stock/GSK/gsk-plc/company-page

The abrdn Private Equity Opportunities Trust is a London listed investment trust.

https://www.abrdnpeot.co.uk/

It is dedicated to investments in private equity funds and direct investments into private companies with European focus.[2] Established in 2001, the company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. Formerly Standard Life Private Equity Trust plc.

Net assets £1,099.6 million

Largest 10 Funds (% of NAV)

Advent International Global Private Equity VIII €13.0bn 5.4% of fund
Altor Fund IV €2.1bn 4.9% of fund
Nordic Capital Fund IX €4.3bn 4.2% of fund
Permira V €5.0bn 4.0% of fund
3i Venice SCSp (Action)B €2.5bn 4.0% of fund
Investindustrial Growth €375mn 3.6% of fund
Exponent Private Equity Partners III, LP.£1.0bn 3.6% of fund
Nordic Capital VIII €3.6bn 3.5% of fund
Sixth Cinven Fund €7.0bn 3.5% of fund
PAI Europe VI €3.6bn 3.5% of fund

Total 40.2% of fund

https://www.londonstockexchange.com/stock/APEO/abrdn-private-equity-opportunities-trust-plc/company-page

Carl Sagan destroys creationist in debate – YouTube

Share price & latest news | SEEIT (seeitplc.com)

The SDCL Energy Efficiency Income Trust plc invests exclusively in the energy efficiency sector.

The fund has achieved a £1 billion market capitalisation and is included as a constituent of the FTSE 250 index

The Company’s objective is to generate an attractive total return for investors comprising stable dividend income and capital preservation, with the opportunity for capital growth. It does so through its investment in a diversified portfolio of energy efficiency projects that deliver lower cost, cleaner and more reliable energy solutions to end users of energy.

https://www.londonstockexchange.com/stock/SEIT/sdcl-energy-efficiency-income-trust-plc/company-page

Pet Shop Boys – It’s Alright – YouTube

Dictation being forced in Afghanistan Revolution in South Africa taking a stand People in Eurasia on the brink of oppression I hope it’s going to be alright I hope the music plays forever Forests falling at a desperate pace The earth is dying, and desert taking its place People under pressure on the brink of starvation I hope it’s gonna be alright (Alright alright alright) Cause the music plays forever (Cause it goes on and on and on and on and on) I hope it’s gonna be alright (On and on and on and on, forever) And the music plays forever (Alright alright) Generations will come and go (will come and go) But there’s one thing for sure Music is our life’s foundation And shall succeed all the nations to come Cause the music plays forever (Cause it goes on and on and on and on and on) I hope it’s gonna be alright (On and on and on and on and on) (On and on and on and on) And the music plays forever The year three thousand may still come to pass But the music shall last I can hear it on a timeless wavelength Never dissipating but giving us strength I think it’s gonna be alright (It’s gonna be alright) (Alright alright alright alright) Cause the music plays forever (Eeh-oh-oh-eeh) (Gonna be alright) If the music plays forever (It will be alright) If the music plays forever (I think it’s gonna be alright) It’s gonna be alright (If the music plays) It’s all – alright It’s alright (For it goes on and on and on and on) (On and on and on and on)

There is a lot of talk in the UK of tax cuts, being proposed by the majority of candidates trying to becoming PM.

However the UK national debt is huge. Cutting taxes when the debt is so huge seems odd if not reckless.

UK general government gross debt was £2,382.8 billion at the end of 2021, equivalent to 102.8% of gross domestic product (GDP)

https://www.ons.gov.uk/economy/governmentpublicsectorandtaxes/publicspending/bulletins/ukgovernmentdebtanddeficitforeurostatmaast/december2021#government-debt

The reason for the huge debt is that the UK government runs at a deficit, in other words it spends more than it earns in taxation.

The debt is unstainable.

https://www.bbc.co.uk/news/business-62079052

Today, the supermarket group Sainsburys pays out its July dividend.

https://www.about.sainsburys.co.uk/

9.9p a share.

https://www.londonstockexchange.com/news-article/SBRY/total-voting-rights/15522684

The total number of voting rights in J Sainsbury plc is 2,343,734,901

Thus:-

2,343,734,901 x £0.099 = £232,029,755.199

That is £232 million paid to shareholders.

https://www.londonstockexchange.com/stock/SBRY/sainsbury-j-plc/company-page

Another month, guess what, take a lucky guess, it is the same old story, HM Government, spends more money than it receives via taxes and duties.
Now we are in a post Covid 19 world. UK’s HM Government needs to fund many new demands. [www.dmo.gov.uk]

https://dmo.gov.uk/dmo_static_reports/Gilt%20Operations.pdf

Another deficit month, thus to bridge the gap, needs to borrow on the bond market In June 2022, the HM Government had to borrow money to meet the difference between tax revenues and public sector expenditure. The term for this is The PSNCR: The Public Sector Net Cash Requirement. There were only 3 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office to raise cash for HM Treasury:-

28-Jun-2022 0 1/8% Index-linked Treasury Gilt 2031 3 months £1,011.9750 Million
08-Jun-2022 1% Treasury Gilt 2032 £3,125.0000 Million
07-Jun-2022 0¼% Treasury Gilt 2025 £3,075.0000 Million

£1,011.9750 Million + £3,125.0000 Million + £3,075.0000 Million = £7,211.975 Million

£7,211.975 Million = £7.211.975 Billion

On another way of looking at it, is in the 30 days in June 2022, HM Government borrowed:- £240.39916666666666666666666666667 Million each day for the 30 days.

We are fortunate, while the global banking and financial markets still has the confidence in HM Government to buy the Gilts (Lend money to the UK), the budget deficit keeps rising. What is also alarming, is the dates these bond mature in 2032. All long term borrowings, we are mortgaging our futures, but at least “We Are In It Together……”

3i Infrastructure is a London listed investment company investing in hard infrastructure assets.

Today, 3i Infrastructure PLC pays out its July 2022 dividend.

5.225p a share.

https://www.3i-infrastructure.com/

The total voting rights in the Company as at that date were 891,434,010

Thus:

891,434,010 x £0.05225 = £46,577,427.0225

That is £46m.

https://www.londonstockexchange.com/stock/3IN/3i-infrastructure-plc/company-page

The US, the world’s largest economy home to giants, like Exxon Mobile, Google, Intel, IBM, Cisco, Juniper, S-One Communications Corporation.

The US Central Bank, is the US Federal Reserve.

https://www.federalreserve.gov/

They are in a process of reducing the size of the balance sheet, that since 2008 has grown to deal with the Global Financial Crisis and then the 2020 Covid 19 Pandemic.

The 2 diagrams below show the size, now sitting at $8,934,346 Billion. (That is $8.9 Trillion)

The press release below shows the plan to reduce the size of the balance sheet with a reduction in the bond buying programme of QE.

https://www.federalreserve.gov/monetarypolicy/files/fomcminutes20220615.pdf

“In their consideration of the appropriate stance of monetary policy, participants concurred that the labor market was very tight, inflation was well above the Committee’s 2 percent inflation objective, and the near-term inflation outlook had deteriorated since the time of the May meeting. Against this backdrop, almost all participants agreed that it was appropriate to raise the target range for the federal funds rate 75 basis points at this meeting. One participant favored a 50 basis point increase in the target range at this meeting instead of 75 basis points. All participants judged that it was appropriate to continue the process of reducing the size of the federal Reserve’s balance sheet, as described in the Plans for Reducing the Size of the Federal Reserve’s Balance Sheet that the Committee issued in May. In light of elevated inflation pressures and signs of deterioration in some measures of inflation expectations, all participants reaffirmed their strong commitment to returning inflation to the Committee’s 2 percent objective. Participants observed that a return of inflation to the 2 percent objective was necessary for creating conditions conducive to a sustainably strong labor market over time. “

The genius of Milton Friedman is explaining esoteric economical concepts in a way everyone can understand

The European Assets Trust is a London Listed Investmen Trust.

https://www.bmogam.com/european-assets-trust/

The trust aims are to achieve growth of capital through
investment in quoted small and medium-sized
companies in Europe, excluding the United
Kingdom. A high distribution policy has been
adopted and dividends are paid from a mix of
income and capital reserves

Top Ten holdings are:-

Lectra 3.3% of the fund, Technology
Ringkjoebing Landbobank 3.3% of the fund, Financials
SIG Group 3.2% of the fund, Industrials
Stratec 3.0% of the fund, Health Care
Sparebank 3.0% of the fund, Financials
Sligro Food Group 3.0% of the fund, Consumer Staples
flatexDEGIRO 2.9% of the fund, Financials
IMCD 2.8% of the fund, Basic Materials
Cancom 2.8% of the fund, Technology
Alten 2.8% of the fund,Technology

Pays quarterly dividends. 6.91% yield !!

https://www.londonstockexchange.com/stock/EAT/european-assets-trust-plc/company-page